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Oct 4 2022, 07:15 IST/BST
Today’s announcement is likely to lead to material downgrades to estimates for FY23 and 24. Significant volatility in markets means that some projects are likely to be delayed, which will push revenue growth out to the right. However, the company’s asset-light approach to land should mean margin pressures don’t last as long as in the rest of the sector, and there is a significant cash pile to deploy into land opportunities.
Oct 4 2022, 07:15 IST/BST